SPGI vs. PSI

Last updated Jun 24, 2026

SPGI (S&P Global Inc.) is a stock, while PSI (Invesco Semiconductors ETF) is Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index. Over the past 10 years, SPGI returned 15.47%/yr vs 35.27%/yr for PSI. At a 0.46 correlation, their price movements are largely independent.

Performance

SPGI vs. PSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P Global Inc. (SPGI) and Invesco Semiconductors ETF (PSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPGI achieves a -23.07% return, which is significantly lower than PSI's 116.16% return. Over the past 10 years, SPGI has underperformed PSI with an annualized return of 15.47%, while PSI has yielded a comparatively higher 35.27% annualized return.

SPGI

• 1D: -1.77%
• 1M: -3.95%
• YTD: -23.07%
• 6M: -23.44%
• 1Y: -21.58%
• 3Y*: 1.65%
• 5Y*: 0.29%
• 10Y*: 15.47%

PSI

• 1D: -7.60%
• 1M: 10.87%
• YTD: 116.16%
• 6M: 110.97%
• 1Y: 200.81%
• 3Y*: 58.76%
• 5Y*: 32.86%
• 10Y*: 35.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPGI vs. PSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPGI S&P Global Inc.	-23.07%	5.71%	13.94%	32.79%	-28.38%	44.68%	21.40%	62.27%	1.37%	59.32%
PSI Invesco Semiconductors ETF	116.16%	36.32%	17.17%	49.06%	-34.43%	46.55%	56.75%	52.49%	-11.55%	40.16%

Correlation

The correlation between SPGI and PSI is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 23, 2005	0.46

The correlation between SPGI and PSI shifts across timeframes, from -0.12 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPGI vs. PSI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPGI

SPGI Risk / Return Rank: 13
SPGI Sharpe Ratio Rank: 10
SPGI Sortino Ratio Rank: 14
SPGI Omega Ratio Rank: 12
SPGI Calmar Ratio Rank: 15
SPGI Martin Ratio Rank: 12

PSI

PSI Risk / Return Rank: 96
PSI Sharpe Ratio Rank: 98
PSI Sortino Ratio Rank: 93
PSI Omega Ratio Rank: 93
PSI Calmar Ratio Rank: 98
PSI Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPGI vs. PSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P Global Inc. (SPGI) and Invesco Semiconductors ETF (PSI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SPGI	PSI	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	4.79	-5.57
Sortino ratio: Return per unit of downside risk	-0.89	4.40	-5.29
Omega ratio: Gain probability vs. loss probability	0.87	1.61	-0.74
Calmar ratio: Return relative to maximum drawdown	-0.71	13.06	-13.77
Martin ratio: Return relative to average drawdown	-1.31	45.36	-46.67

SPGI vs. PSI - Sharpe Ratio Comparison

The current SPGI Sharpe Ratio is -0.78, which is lower than the PSI Sharpe Ratio of 4.79. The chart below compares the historical Sharpe Ratios of SPGI and PSI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPGI vs. PSI - Drawdown Comparison

The maximum SPGI drawdown since its inception was -74.67%, which is greater than PSI's maximum drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for SPGI and PSI.

Drawdown Indicators

	SPGI	PSI	Difference
Max Drawdown Largest peak-to-trough decline	-74.67%	-62.96%	-11.71%
Max Drawdown (1Y) Largest decline over 1 year	-30.48%	-15.48%	-15.00%
Max Drawdown (3Y) Largest decline over 3 years	-30.48%	-41.07%	+10.59%
Max Drawdown (5Y) Largest decline over 5 years	-39.76%	-44.85%	+5.09%
Max Drawdown (10Y) Largest decline over 10 years	-39.76%	-44.85%	+5.09%
Current Drawdown Current decline from peak	-28.47%	-7.60%	-20.87%
Average Drawdown Average peak-to-trough decline	-15.24%	-15.90%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.55%	4.45%	+12.10%

Volatility

SPGI vs. PSI - Volatility Comparison

The current volatility for S&P Global Inc. (SPGI) is 8.13%, while Invesco Semiconductors ETF (PSI) has a volatility of 21.88%. This indicates that SPGI experiences smaller price fluctuations and is considered to be less risky than PSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPGI	PSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	21.88%	-13.75%
Volatility (6M) Calculated over the trailing 6-month period	24.47%	35.15%	-10.68%
Volatility (1Y) Calculated over the trailing 1-year period	28.00%	42.19%	-14.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.56%	38.84%	-14.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.01%	35.61%	-9.60%

Dividends

SPGI vs. PSI - Dividend Comparison

SPGI's dividend yield for the trailing twelve months is around 0.96%, more than PSI's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSI Invesco Semiconductors ETF	0.03%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%
SPGI S&P Global Inc.	0.96%	0.73%	0.73%	0.82%	0.99%	0.65%	0.82%	0.84%	1.18%	0.97%	1.34%	1.34%

Frequently Asked Questions

Can I hold both SPGI and PSI in my portfolio?

SPGI and PSI have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPGI or PSI?

PSI has higher volatility (21.88%) compared to SPGI (8.13%). In terms of maximum drawdown, SPGI dropped -74.67% vs PSI's -62.96%.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (4.79 vs -0.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.